Critical Resistance: $358.00
Key Resistance: $321.10
Key Support: $249.93
Critical Support: $198.00
ETH broke critical support back in late July, which now becomes critical resistance to watch at $358.
Bears are still in control of trend with the red negative directional index line in control. Momentum for the bearish trend still has strength with an elevated Average Directional Index (ADX) line. With not enough buying interest this market should continue to work toward the apex of the highlighted triangle pattern. The historical significant low at $198 is a buying target to watch as price consolidates with a slight bearish slant.
No need to buy this market without any momentum to back the purchase. An upside break of the blue bearish trend line (with validated momentum) is where we recommend a buy. Otherwise, wait for more downside opportunity.
More info at CryptoMarket360!
Key Resistance: $321.10
Key Support: $249.93
Critical Support: $198.00
ETH broke critical support back in late July, which now becomes critical resistance to watch at $358.
Bears are still in control of trend with the red negative directional index line in control. Momentum for the bearish trend still has strength with an elevated Average Directional Index (ADX) line. With not enough buying interest this market should continue to work toward the apex of the highlighted triangle pattern. The historical significant low at $198 is a buying target to watch as price consolidates with a slight bearish slant.
No need to buy this market without any momentum to back the purchase. An upside break of the blue bearish trend line (with validated momentum) is where we recommend a buy. Otherwise, wait for more downside opportunity.
More info at CryptoMarket360!